Migros Bank generated a net profit of 276,2 million francs in 2025, representing a decline of 2,1 percent compared with the previous year. Operating profit (before taxes) also came in slightly lower at 335,2 million francs (–1,7 percent), which, according to Tuesday’s statement, still marks the second-best result in the bank’s history.

In its interest business, net income remained stable at 599,2 million francs, which is a solid result given the rather challenging environment. Client deposits increased slightly to 45,9 billion francs (+0,3 percent), with particularly strong growth in private, savings and pension accounts (+3,6 percent to 37,2 billion francs). Client loans rose by 1,9 percent to 51,5 billion francs, the lion’s share of which was attributable to mortgages (+2,7 percent to 48,2 billion francs).

Commission and Trading Business Perform Well

In commission income, Migros Bank generated 128,1 million francs thanks to favorable stock market developments, an increase of 2,4 percent compared with the previous year. Assets under custody rose by 8,8 percent to 18,3 billion francs. In trading activities, income increased by 3,6 percent to 76,5 million francs.

Operating expenses rose by a notable 3,9 percent. Of the total 441,6 million francs, 265,3 million francs (+4,8 percent) were attributable to personnel expenses, while headcount increased by 1,8 percent to 1'749 employees. General and administrative expenses grew by 2,6 percent to 176,3 million francs. According to the statement, in 2025 Migros Bank invested not only in its branch network and advisory model, but also in its digital distribution channels.

Increasing the Share of Non-Interest Income

The cost-income ratio stood at 52,2 percent in 2025. The balance sheet total increased by 2,3 percent to 62,3 billion francs. The bank now serves 1,23 million clients, 50'000 more than a year earlier.

Migros Bank is Now Entering a New Strategic Period.

First, from 2026 to 2030, it aims to strengthen its core business in wealth advisory and pension provision, housing and construction, as well as corporate clients. By increasing the share of non-interest income, revenues are to be better diversified – a strategic direction that most mortgage-heavy Swiss financial institutions have been pursuing for years. This is also expected to lead to higher market share and an expansion of primary banking relationships.

New Technologies and Synergies

Second, Migros Bank intends to enhance its operational efficiency by more closely integrating its various distribution channels. «The use of state-of-the-art technologies will play an important role in increasing bank productivity and supporting advisory services,» the bank writes, notably refraining from the almost obligatory mention of artificial intelligence in this context. Third, the bank aims to leverage additional synergies within the Migros Group.

Looking ahead, CEO Manuel Kunzelmann stated: «As a universal bank with a broad, nationwide base of private and corporate clients, we are entering the new strategic period in 2026 from a position of strength. We are well equipped to successfully navigate the profound demographic and technological changes of the coming years.»